The Cyprus residential property market is showing stability and is preparing for a “golden era”, as evidenced by the conclusions of experts made at the 19th Conference on Property Development and Construction. The round table entitled “Cyprus Property 2025: Price Dynamics and Expectations” was devoted to examining the stability of the sector, investment trends and growth prospects.
Kikis Athenodoro , director of Kikis Athinodorou & Associates LLC, described the market as stable, but expressed concern about the 5% cap rate issue associated with the sale of older buildings. The expert stressed the importance of investing in the maintenance of properties to preserve their value. Athinodorou also called for a broader approach beyond student accommodation.
Markos Christodoulli , Managing Director of IKIA RESIDENCE, focused on large projects but urged caution in the area of permanent residence. He noted the decline in investment applications under the scheme and called for political forces to work together to make the country more attractive to foreign businesses. He cited Malta’s political effectiveness as a model that Cyprus could follow to attract foreign businesses.
Georgios Chrysochos , director of Cyfield Group , highlighted the differences between local and foreign demand for real estate. Local buyers benefit from economic stability and low interest rates, while foreign demand remains strong. However, supply is not growing fast enough. Chrysochos also criticized delays in the implementation of state projects, stressing the need for greater independence for engineers overseeing such work.
The Golden Age of Real Estate
Petros Lazarou, CEO of G&P Lazarou Estate Agents Ltd , predicts the arrival of a “golden era” of Cyprus real estate. He linked this to the role of Cyprus as an energy hub. According to him, the European refusal of Russian gas makes the maritime zones of Cyprus strategically important. Lazarou also noted that large corporations are buying and integrating real estate previously associated with non-performing loans (NPL), which stimulates the development of the sector.
Panic Livadhiotis , Managing Director of L. Livadhiotis & Sons Property Developers , noted Larnaca’s strong market performance , driven by stable banking practices. Developers and buyers operate without over-reliance on financing. Livadiotis also noted the decline in high-rise buildings in favor of smaller properties and emphasized the role of artificial intelligence in improving communication and efficiency.
Pantelis Leptos , Co-Chairman of Leptos Group , pointed to the acceleration of globalization of the real estate market as a result of the pandemic. Cyprus has become an attractive destination for “digital nomads and remote workers .” Leptos predicted that the country’s GDP would grow from €35 billion to €50 billion, provided that green development, digital transformation and talent attraction are prioritized.
Discussion moderated by Yannis Misirlis , president of the Cyprus Developers Association, has boosted confidence in the Cyprus property market, with experts predicting continued growth and transformation of the sector.
